d’finitive – Flood (NDIR Final Report 2012)

The Federal Government recently decided to implement standardised flood mapping, a standard definition of flood and a key facts statement. It also called for more consultation of how flood insurance should be implemented. In this newsletter, we -

Provide some background to the Natural Disaster Insurance Review

Discuss what flood insurance will mean for insurers and consumers

Discuss some issues for insurers in the short term, particularly for those insurers who allow customers to opt out of flood cover